Search Results for keywords:"inflation adjustment"

The Federal Reserve Board is updating its rules to adjust the fines known as civil money penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This adjustment ensures that penalties retain their deterrent effect by accounting for changes in the economy. The new penalty amounts will apply starting January 13, 2025, for violations occurring after November 2, 2015. The rule is implemented without the usual notice and comment process because of specific provisions in the law.

The Financial Crimes Enforcement Network (FinCEN), part of the Treasury Department, published a final rule to update civil monetary penalties (CMPs) to account for inflation as required by law. This update is in line with the Federal Civil Penalties Inflation Adjustment Act, which mandates annual adjustments to ensure the penalties maintain their deterrent effect. The rule applies to penalties assessed after its effective date, January 28, 2021, and does not require a public comment period because the adjustments are routine calculations.

The U.S. Department of Transportation (DOT) has issued a final rule to revise civil penalty amounts for violations of various transportation regulations, effective December 30, 2024. These adjustments are required by the Federal Civil Penalties Inflation Adjustment Act and are meant to ensure that penalties maintain their deterrent effect by accounting for inflation. The rule covers a wide array of areas including aviation, hazardous materials, and vehicle safety, among others. The adjustments apply prospectively, meaning they will only affect violations occurring after the rule takes effect.

The Cboe EDGX Exchange, Inc. has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to raise the monthly fee for 10 Gb physical ports from $7,500 to $8,500. This increase is intended to help maintain and improve market technology and services. The Exchange argues that the price adjustment is in line with competitors and justified by inflation since the last fee change in 2018. The SEC is soliciting comments from the public on this proposed rule change.

The Cboe EDGX Exchange, Inc. has proposed a rule change to increase the monthly fee for 10 gigabit (Gb) physical ports from $7,500 to $8,500. This fee is charged to both members and non-members who use these ports to connect to the exchange's data centers. The Exchange argues that the fee increase is necessary to help maintain and improve their market technology and services, and remains competitive compared to fees charged by other exchanges. The proposed change aims to reflect the costs of inflation and investments made in enhancing their systems over the years. The public has been invited to submit comments on this change.

The Federal Maritime Commission has issued a final rule to adjust civil monetary penalties for inflation. This adjustment is required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The new penalty amounts are calculated using a formula based on changes in the consumer price index. This rule takes effect on January 15, 2025, and does not require a public comment period due to exemptions from certain rulemaking procedures.

The Department of Transportation has announced an increase in the rail passenger transportation liability cap. This adjustment is mandated by the Fixing America's Surface Transportation (FAST) Act and raises the cap from $294,278,983 to $322,864,228 to account for inflation. The new cap ensures that the total compensation for all claims from a single accident, including punitive damages, reflects current dollar value. This change will be effective 30 days after February 25, 2021.

The National Endowment for the Humanities (NEH) announced the adjusted maximum and minimum civil penalties for violating its New Restrictions on Lobbying. These adjustments are required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The new penalties, effective from January 15, 2021, to January 14, 2022, range from a minimum of $20,731 to a maximum of $207,314. The adjustments ensure that the penalty amounts keep pace with inflation, as mandated by the 2015 Act.

The Department of Defense (DoD) is proposing changes to the Defense Federal Acquisition Regulation Supplement (DFARS) to adjust acquisition-related dollar thresholds for inflation, using the Consumer Price Index. This adjustment is set to occur every five years, but excludes certain statutes like the Davis-Bacon Act and trade agreements thresholds. The proposed rule aims to maintain current regulations by reflecting economic changes, ensuring that thresholds keep pace with inflation, and is not expected to significantly affect the public or small businesses. Comments on these proposed changes are invited until March 18, 2025, and further details are available on the regulations.gov portal.

The Federal Housing Finance Agency (FHFA) has issued a final rule to adjust civil money penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act. This rule is applied to various penalties under FHFA’s purview, including those related to flood insurance and program fraud. The adjustments are calculated based on changes in the Consumer Price Index for All Urban Consumers (CPI-U). The adjustments are mandated by law, and the FHFA has determined it does not need to seek public comments on this rule.